DMB, a development and investment firm based in Scottsdale, announced that it had sold the two Class A office buildings, the retail core and an additional 6.88 acres in the Main Street District of Buckeye, Arizona. HCCJ Family GP, LLC paid $13.02 million for the development and plans to hold this commercial property as an investment. Main Street Property Management will continue to work with the tenants and the Verrado community.
"The people who live and work in Verrado make it a very unique and vibrant community," highlighted the buyer. "Between the resurgence of builder activity in Verrado over the last 18 months and the launch of the new 55-plus Victory District, this project is very well positioned for the long-term, which perfectly fits our family investment philosophy. We are looking forward to accompanying local business owners and residents in the future growth of their community alongside DMB and their professional and visionary team."
The Verrado Main Street consists of two, class A office buildings and the community's Main Street retail, which includes a Bashas' Grocery, CVS Pharmacy, and a diverse group of shop tenants. The office space is fully leased and the retail space was more than 94% leased at the time of sale. The sale also included two parcels consisting of 6.88-acres that are zoned for future commercial and mixed-use development.
For more news and information visit Blumberg Partners.
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